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|July 30, 2014 2:16 p.m.|
|All Proposals Approved at Teva's Annual Meeting of Shareholders|
Upon conclusion of the meeting, the Board of Directors issued the following statement: "We appreciate the support of Teva's shareholders in our efforts to diversify the Board and strengthen our corporate governance, including reducing the size of the Board from 15 members to 13, nominating a director with extensive global pharmaceutical experience, and the continued service of our CEO as a member of our Board of Directors."
The Board added: "The message we received from shareholders is clear. We are committed and continuing our efforts to address matters important to our shareholders and to improve corporate governance."
The Board concluded: "We have before us significant business challenges and opportunities linked to Teva's growth, and we will do our utmost to meet them."
The proposals were approved by the following approximate percentages of shares voting, based on a preliminary tabulation:
These results do not reflect any discretionary voting of uninstructed ordinary shares represented by ADSs, which Teva did not cause to be voted.
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements, which are based on
management’s current beliefs and expectations and involve a number of
known and unknown risks and uncertainties that could cause our future
results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause or
contribute to such differences include risks relating to: our ability to
develop and commercialize additional pharmaceutical products;
competition for our innovative products, especially COPAXONE® (including
competition from orally-administered alternatives, as well as from
potential purported generic equivalents); the possibility of material
fines, penalties and other sanctions and other adverse consequences
arising out of our ongoing FCPA investigations and related matters; our
ability to achieve expected results from the research and development
efforts invested in our pipeline of specialty and other products; our
ability to reduce operating expenses to the extent and during the
timeframe intended by our cost reduction program; our ability to
identify and successfully bid for suitable acquisition targets or
licensing opportunities, or to consummate and integrate acquisitions;
the extent to which any manufacturing or quality control problems damage
our reputation for quality production and require costly remediation;
our potential exposure to product liability claims that are not covered
by insurance; increased government scrutiny in both the U.S. and
Teva Pharmaceutical Industries Ltd.